In 1979, my ex-business partner, my wife and I decided to start PDQ Supply, Inc. (PDQ), a wholesale appliance and heating parts supply company.
Our main focus was on real estate management companies that were involved in multi-housing facilities. Our sales were made through a catalog we produced and via sales calls by my partner and me. Our guiding philosophy was to purchase from manufacturers in large quantities at low prices and sell at high margins. We were located in Melrose Park for our first 16 years where we met Brogan Ptacin, then President of the local American National Bank branch. Brogan has always been there for PDQ and ERP. We have always used a full line of services wherever he has worked. Since Brogan has been with Byline Bank, we have borrowed more money and used more banking services than ever before.
Between real estate, checking and money market accounts, lines of credit and personal loans for the purchase of my businesses, Brogan and Byline Bank have been by my side. ERP finally got its jump start in 2002, when a Tennessee-based competitor went bankrupt. In 2003, we went after their 250 accounts around the United States to fill the void created by their demise. Through this time period Brogan was behind us 100% from financing our building projects to providing lines of credit for both companies, all the while handling our normal day-to-day banking needs.
In 2011, my business partner wanted to exit the business. We wrote our pitch book and met with eleven private equity firms in early to mid-2012. I hadn’t settled on with the idea of retiring, but at 58 years old I didn’t really want to go into debt to buy the businesses. With the help of Brogan, Byline Bank and a good tax accountant, the bank custom-tailored an eight million dollar lending package so we could buy the companies. On August 30, 2012, I bought the businesses from my partner. A year and half after that I bought a 45,000 square foot building in St. Charles, which again Brogan helped me finance along with the SBA.
“Banking competitors solicit me all the time. I tell them that all banks have money, but I have Brogan and his friendship and support.”
Our business needed help about 10 years ago to get going. Brogan was there with healthy lines of credit to help us through. Now that we don’t owe money anymore, he has been asking us about acquiring other similar businesses where the bank could be of assistance. To me it is just another chapter of my life with Brogan. With his help, we can stretch the horizons and possibilities for the next generation of PDQ/ERP and its employees.
President, PDQ Supply, Inc. & ERP Inc.